Quite often, many people who are involved in science, or who simply like to learn new and exciting matters, have the idea of inventing and patenting something. After that, of course, some want to sell their patent and make good money. Which certainly can be true. Since this is a very popular area of development, an increasing number of young people are developing awesome and sometimes mind-boggling inventions. As such you need to know more about such a concept as a patent. So, let's look at where and under what conditions you can sell the patent. However, first of all, if you only want to invent the product, you should learn what a patent is. You must also learn how you can license it.
Plain and simple, a patent is a right to the invention. In other words, a patent is an exclusive right to a product or process. This is usually a new way of doing something or offering a new technical solution to a problem. A patent requires that the technical information about the invention be disclosed to the public in the patent application.
The Patent Owner may authorize or license other parties to use the invention on mutually agreed-upon terms. Thus the Patenter may also sell his right to the product to someone else. After which that person or entity becomes the new owner of the invention certificate. When the patent expires, the protection of the technology, product, etc. ceases, and the invention becomes in the public domain. This means that anyone can use it for commercial purposes, and such use will not be an infringement of the license.
Patents can be granted for inventions in absolutely any field of technology, from a small household item to a nanotechnology chip. A developed product can be any creature, such as a compound or process, or a procedure that gives rise to a certain compound. Quite a few of the products we use contain a number of inventions. For example, a laptop computer can be associated with hundreds of inventions working together.
It is easy to get carried away with the idea of creating something from nothing. And, it is tempting to believe that once you patent an original invention, someone will automatically pay big money to bring it to the market. But that is almost never the case. New inventors need to understand how to sell a patent from start to finish, from the very beginning of their creative endeavor. They should invest in a mindset that generates the most sought-after ideas.
Most likely you will be dealing with either a patent-licensing company or an operating agency. These are the most frequent buyers of patents. Licensing companies have the goal of monetizing the patent or developing a product based on it. Operating companies buy patents mainly to protect the product or to expose patents to competitors.
Once you have made up your mind and are ready to sell your patent to a company or an investor, it would be logical to ask the question, what should you do next? Thus, it is necessary to study this process in detail. Especially because it is a kind of learning for you, as a seller. Most transactions take place privately.So, what is the best way to sell a patent? You will find the answer below. Let's look at a few solutions for selling patents.
If you are looking for a good place to sell your patents, then you should definitely consider this company. In most cases, this firm offers the best conditions for the sale. It is quite simple, your patent is investigated to begin with, and you do not pay anything. Once your patent is thoroughly investigated, they will start looking for a buyer for your portfolio. Essentially meaning you do not have to do anything. Additionally, you can get a patent license here, which is also a good thing. In short, here are the advantages of this company:
Plus, we can say that here everything is done for you. All you have to do is submit patents for a free evaluation. Then you will be offered a step-by-step approach to monetizing them.
RPX is a large and active patent buyer in the market today. Sellers are given a fair market price and cash payments usually within 90 days of receiving your offer for sale. In other words, the company provides a guaranteed value for your patent assets and deals quickly. Plus, the cash payments come directly to you.
On the IP Marketplace you can put your patents or license applications up for sale or even registration. A special characteristic of this site is the ability to filter. Extensive filtering makes it easy for users to find intellectual property in specific categories, countries, and even types of collaboration agreements.
Now by figuring out where you can sell the patents, one interesting and tempting question remains. How much can you sell a patent for? There are three types of deals: a reverse deal, a hybrid deal, or a cash deal. In a reverse deal, the buyer agrees to pay the patent seller a percentage of the incoming license revenue. The buyer can also spend resources to monetize the patents instead of spending money to buy the patents themselves. In a hybrid transaction, the buyer pays a cash advance, such as $5,000 to $50,000. Then, agrees to pay the inventor a percentage of the license income. And, of course, cash deals are when the buyer owes the inventors nothing. Such deals start at $50,000 and can reach millions of dollars.
So, now you have understood how to sell patents or even license them, which companies can help us with this, and who you can trust. But you should always remember that this is a very complicated and painstaking process in which there have been, are, and will be many nuances and difficulties.